PrairieSky Royalty (TSE:PSK) Reaches New 12-Month High on Analyst Upgrade

PrairieSky Royalty Ltd. (TSE:PSK) hit a new 52-week high during trading on Wednesday after National Bankshares raised their price target on the stock from C$32.00 to C$35.00. National Bankshares currently has an outperform rating on the stock. PrairieSky Royalty traded as high as C$29.99 and last traded at C$29.60, with a volume of 39973 shares traded. The stock had previously closed at C$29.65.

Several other research analysts also recently issued reports on PSK. Raymond James Financial upgraded shares of PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and boosted their price objective for the stock from C$30.00 to C$35.00 in a report on Tuesday, December 9th. Natl Bk Canada upgraded shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Finally, Scotiabank increased their price objective on shares of PrairieSky Royalty from C$29.00 to C$30.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.00.

PrairieSky Royalty Stock Down 0.2%

The firm has a fifty day moving average of C$27.39 and a 200-day moving average of C$25.82. The company has a quick ratio of 0.65, a current ratio of 0.63 and a debt-to-equity ratio of 3.48. The firm has a market cap of C$6.89 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 0.47 and a beta of 0.79.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd is the owner of subsurface mineral rights on a variety of royalty properties in western Canada. The company encourages third parties to develop these properties, while also seeking additional petroleum and natural gas royalty assets. Once PrairieSky has given a third party the right to explore, develop, or produce on its properties, the company collects royalty revenue from the development of petroleum and natural gas. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.